July 08, 2025 01:08 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
PM Modi meets Uruguay President on sidelines of 17th BRICS Summit in Rio de Janeiro | PM Modi meets Bolivian President on the sidelines of BRICS in Rio de Janeiro | Supreme Court refuses interim stay on Election Commission's voter list revision drive in Bihar, hearing on Thursday | Khalistani terrorist Harpreet Singh alias Happy Passia, responsible for terror attacks in Punjab, brought to India from US: Report | Calcutta HC dismisses medical council's order suspending TMC leader Dr. Santanu Sen | I do not have any cabinet: Kangana Ranaut on Mandi disaster relief; Congress slams BJP MP for 'insensitivity' | 'Fadnavis did what Balasaheb Thackeray could not...': Raj Thackeray jibes at Maharashtra CM after MNS chief reunites with Uddhav | Modi will bow to Trump's deadline: Rahul Gandhi attacks PM over India-US trade deal | Marathi should be respected but thuggery in the name of language won't be tolerated: Devendra Fadnavis reacts to slapgate | Pune rape: Accused was not delivery boy but complainant's friend, she was angry at him for forced sex, say police
Budget 2025
Congress MP Karti Chidambaram reacts to the budget | Photo courtesy: Screen-grab from X video

'Schemes may seem grand-sounding but...': Congress' initial reaction to Sitharaman's Budget 2025

| @indiablooms | Feb 01, 2025, at 01:49 pm

New Delhi/IBNS: The Congress has treaded cautiously while reacting to union finance minister Nirmala Sitharaman's Budget 2025, the first full one since the Modi government returned to power for the third term.

Congress MP Karti Chidambaram said, "The Finance Minister’s speech is a small synopsis of the budget. Unless one reads the budget in detail, one can’t make a clear assessment of it.

"Many schemes have been announced, but they'll be fulfilled well after the term of this House, i.e., 2029. So, one must understand whether they are really new schemes or they are adding on to the old schemes, and also we need to know what the status of the old schemes is."

He added, "The announced schemes may seem grand-sounding, but what happened to similar grand-sounding schemes of the previous budgets?"

Muting the critics and opposition parties, Sitharaman announced zero tax till the income of Rs. 12 lakh per year under the new tax regime in a massive relief to the middle class.

Sitharaman on Friday announced that the new Income Tax bill will be introduced next week.

Sitharaman said the new bill will be a lot simpler for the taxpayers to understand.

"I am happy to inform, with the new income tax bill, we will carry forward the spirit of 'nyay'. The new bill will be clear and direct in text… it will be simple to understand for taxpayers, leading to reduced litigation," said the finance minister in parliament.

The 1961 Act, which is about imposing direct tax as well as security transactions, gifts and wealth, comprises 23 chapters and 298 sections.

The Direct Tax Code, which was given a glimpse by Sitharaman last year during the budget, is aimed at simplifying the tax system and reducing the page count.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Close menu